International economics

目录
Firm(Industry)Competitiveness
CALCULATING THE WELFARE EFFECTS OF A TARIFF
Tariff Welfare Effects:Large-Nation Model
Tariff Examples
Motorcycles
COST TO THE CONSUMER OF PRESERVING A PRODUCTION WORKER’S JOB
Japanese Luxury Cars
How a Tatiff Burdens Exporters
Arguments for Trade Restrictions
EFFECTS OF ELIMINATING IMPORT TARIFFS
Job Protection
A Nation's Competitiveness
Protection against Cheap Foreign Labor
Fairness in Trade:A Level Playing Field
Maintenance of the Domestic Standard of Living
Equalization of Production Costs
Infant-Industry Argument
Noneconomic Arguments
PETITION OF THE CANDLE MAKERS
The Political Economy of Protectionism
Summary
Study Questions
EVEN THE BOEING 777ISN’T ALL AMERICAM
CHAPTER SIX
Nontariff Trade Barriers
Import Quota
Trade and Welfare Effects
Sugar Import Quotas
ALLOCATING QUOTA LICENSES
Quotas versus Tariffs
Tariff-Rate Quota:A Two-Tier Tariff
Orderly Marketing Agreements
Export-Quota Effects
Globalization and Competitiveness
EFFCTS OF ELLMINATING NONTARIFF TRADE BARRIERS
Japanese Auto Restraint
Domestic Content Requiremenrs
CATERPILLAR OPPOSES STEEL QUOTAS
Subsidies
Domestic Subsidy
HOW“FOREIGN”IS YOUR CAR?
Export Subsidy
Dumping
Forms of Dumping
Is International Trade an Opportunity or a Threat to Workers?
International Price Discrimination
Excess Capacity
Antidumping Regulations
Washington Apples
Other Nontariff Trade Barriers
Government Procurement Policies
SMITH CORONA FINDS ANTIDUMPING VICTORIES ARE HOLLOW
Tecbnical and Administrative Regulations
Summary
Study Questions
COMPETITION IN THE WORLD STEEL INDUSTRY
CHAPTER SEVEN
Trade Regulations and Industrial Policies
The Smoot-Hawley Act
The Reciprocal Trade Agreements Act
The General Agreemint on Tariffs and Trade and the World Trade Organization
FAST-TRACK APPROACH FOR NEGOTIATING TRADE AGREEMENTS
Tbe Uruguay Round
INIERNATIONAL TRADE IN SERVICES
The World Trade Oreanization
Trade Remedy Laws
The Plan of This Book
The Escape Clause
Countervailing Duties
Antidumping Duties
Section 301:Unfair Trading Practices
U.S.-Japan Automotive Trade Dispute
Remedies against Dumped and Subsidized Imports
Protection of Intellectual Propetty Rights
Trade Adjustment Assistance
Industrial Policies of the United States
Export Promotion and Financing
Summary
Knowledge-Based Growth Policy
Industrial Policies of Japan
HAS INDUSTRIAL POLICY HELPED JAPAN?
Strategic Trade Policy
Imperfect Competition and Govevnment Subsidies
Welfare Effects of Strategic Trade Policy
Economic Sanctios
Factors Influencing the Success of Sanctions
Iraqi Sanctions
Summary
Study Questions
Study Questions
CHAPTER EIGHT Trade Policies for thd Developing Nations
Trade policies for the Developing Nations
Developing-Nation Trade Characteristics
Trade Problems of the Developing Nations
Unstable Export Markets
Worsening Terms of Trade
Call for a New International Economic Order
Stabilizing Commodiry Prices
Production and Export Controls
Part One International Trade Relations
Buffer Stocks
Multilateral contracts
Commodity Agreement Experience
The OPEC Oil Cartel
Maximizing Cartel Profits
OPEC as a Cartel
Generalized System of Preferences
Economic Growth Strategies:Import Substitution versus Export-Led Growth
Import Substitution
Export-Led Growth
Contents
CHAPTER TWO
IMPORT-SUBSTITUTION LAWS BACKFIFE ON BRAZIL
High-Performing Asian Economies
The Four Tigers
China as a High-Performing Economy
China's Most-Favored-Nation Trade Status
CHINA'S FAILURE TO PROTECT U.S. INTELLECTUAL PROPERTY
Summary
Study Questions
CHAPTER NINE Regional Trading Arrangements
Types of Regional Trading Arrangements
Foundations of Modern Trade Tbeory
The Lmpetus for Regionalism
Effects of a Regional Trading arrangement
Static Effects
Dynamic Effects
European Union
Pursuing Economic Integration
Agricultural Policy
Governrnent Procurement Policies
U.S.Free Trade Agreements
U.S.-Canada Free Trade Agreement
Historical Development of Modern Trade Theory
North American Free Trade Agreement(NARFTA)
Other regional Trading Arrangements
Regional Integration versus Multilateralism
The Transition Economies of Eastern Europe and the Former Soviet Union
Financing Limitations
Industrial Cooperation
The Council for Mutual Economic Assistance
The Transition toward a Market-Oriented Economy
Summary
Study Questions
The Mercantilists
CHAPTER TEN
International Factor Movements and Multinational Enterprises
The Multinational Enterprise
Motives for Foreing Direct Investment
Demand Factors
cost Factors
Supplying Products to Foreign Buyers:Whether to Produce Domestocally or Abroad
Direct Exporting versrs Foreign Direct Investment/Licensing
Foreign Direct Investment versus Licensing
International trade Theory and Multinational Enterprise
Why Nations Trade:Absolute Advantage
Is Foreign Direct Investment a Tbreat to the United States？
Japanese Transplants in the U.S.Automobile Industry
International Joint Ventures
Reasons for Joint Ventures
Welfare Effects
NEW UNITED MOTOR MANUFACTURING,INC.
Multinational enterprises as a Source of Conflict
Employment
Tecbnology Transfer
National Sovereignty
Why Naations Trade:comparative Advantage
BOEING WORKERS CONTEST TECHNOLOGY TRANSFER TO CHINA
Balance of Payments
Taxation
Transfer Pricing
U.S.Production Sharing with Mexico
International Labor Mobility:Migration
Immigration as an Issue
Immigration and the U.S.Labor Market
Summary
Study Questions
Comparative Advantage in Money Terms
Part Two International Monetary Relations
CHAPTER ELEVEN
The Balance of Payments
Double-Entry Accounting
Balance-of-Payments Structure
Current Account
INTERNATIONAL PAYMENTS PROCESS
Capital Account
What Does a Current Account Surplus(Deficit) Mean?
Statistical Discrepancy:Errors and Omissions
WHERE DOES U.S.COMPARATIVE ADVANTAGE LIE?
The U.S.Balance of Payments
Balance of International Indebtedness
The United states as a Debtor Nation
VIEWS CONCERNING U.S.INTERNATIONAL INDEBTEDNESS
Summary
Study Questions
CHAPTER TWELVE
Foreign Excbange
Foreign Exchange Market
Types of Foreing Exchange Transactions
Transformation Schedules
FOREIGN CURRENCY TRADING
Interbank Trading
Reading Foreign Exchange Quotations
ADJUSTING TO THE DEPRECIATING DOLLAR
Forward and Futures Markets
Foreign Currency Options
Advantage of Foreign currency Options to Exporters
Understanding Option Quotations
Exchange-Rate Determination
Demand for Foreign Excbange
Trading under Constant-Cost Conditions
Supply of Foreign Excbange
Equilibrium Rate of Excbange
Effective Exchange Rate:The Trade-Weighted Dollar
Arbitrage
The Forward Market
The Forward Rate
Forward Market Functions
Interest Arbitrage
Uncovered Interest Arbitrage
EXCHANGE-RATE RISK：THE HAZARD OF INVESTING ABROAD
CHAPTER ONE
Constant Costs
Covered Interest Arbitrage
Foreign Exchange Market Speculation
Speculating in the Spot Market
Speculating in the Forward Market
Other Forms of Speculation
Speculation and Exchange Market Stability
Summary
Study Questions
CHAPTER THIRTEEN
Excbange-Rate Determination
The Basis for Trade and Direction of Trade
Exchange-Rate Determination in a Free Market
Real Income and Exchange Rates
Real Interest Rates and Exchange Rates
Inflation Rates,Purchasing-Power Parity,and Exchange Rates
Law of one Price
INTEREST RATES AND THE DOLLAR'S EXCHANGE VALUE
Relative Purchasing-Power Parity
THE“BIG MAC”INDEX AND THE LAW OF ONE PRICE
Other Market Fundamentals and Their Effects on Exchange Rates
Market Expectations and Exchange Rates
Production Gains from Specialization
INFLATION RATES AND THE DOLLAR'S EXCHANGE VALUE
Interaction of Exchange-Rate Determinants
The Monetary Approch to Exchange-Rate Determination
THE SLIDE OF THE DOLLAR
The Asset-Markets Approach to Exchange-Rate Determination
Exchange-Rate Overshooting
Forecasting Foreign Exchange Rates
Judgmental Forecasts
Technical Forecasts
Fundamental Analysis
Consumption Gains from Trade
Forecast Performance of Advisory Services
Summary
Study Questions
Appendix:Fundamental Forecasting-Regression Analysis
CHAPTER FOURTEEN
Balance-of-Payments Adjustments under Fixed Excbange Rates
Price Adjustments
Gold Standard
Quantity Tbeory of Money
Balance-of-Payments Adjustment
Distributing the Gains from Trade
Interest-Rate Adjustments
Capital Flows and the Balance of Payments
Income Adjustments
Income Determination in a Closed Economy
Income Determination in an Open Economy
Implications of the Foreign Trade Multiplier
Foreign Repercussions
Disadvantages of Automatic Adjustment Mecbanisms
Monetary Adjustments
Payment Imbalances under Fixed Excbange Rates
Complete Specialization
Policy Implications
Summary
Study Questions
CHAPTER FIFTEEN
Excbange-Rate Adjustments and the Balance of Payments
Effects of Exchange-Rate Changes on Costs and Prices
Cost-Cutting Strategies of Japanese Manufacturers in Response to Yen Appreciation
Requirements for a Successful Depreciation(Devaluation)
The Elasticity Approach to Exchange-Rate Adjustment
Empirical Measurement:Import/Export Demand Elasticities
Productivity and Comparativc Advantage
Time Path of Depreciation (Devaluation)
The Absorption Approach to Exchange-Rate Adjustment
The Monetary Approach to Exchange-Rate Adjustment
Summary
Study Questions
CHAPTER SIXTEEN
Exchange-Rate Systems
Exchange-Rate Practices
Fixed Exchange-Rate System
Par Value and Official Excbange Rate
Changing Comparative Advantage
Exchange-Rate Stabilization
Devaluation and Revaluation
Legal versus Economic Implications
Floating Exchange Rates
Acbieving Market Equilibrium
TRADE RESTRICTIONS,JOBS,AND FLOATING EXCHANGE RATES
Arguments for and against Floating Rates
Adjustable Pegged Rates
Managed Floating Rates
Managed Floating Rates in the Sbort Run and Long Run
DO RISING HEALTH-CARE COSTS LEAD TO COMPETITIVE DISADVANIAGE？
Exchange-Rate Stabilization and Monetary Policy
CAN CENTRAL BANKERS PROP UP A CURRENCY？
The European Monetary System
The Maastricht Treaty
The European Currency Crisis of 1992-1993
The Crawling Peg
Exchange Controls
Summary
Study Questions
CHAPTER SEVENTEEN
U.S.Manufacturing Productivity Trends
Macroeconomic Policy in an Open Economy
Economic Policy in an Open Economy
Economic Objectives of Nations
Policy Instruments
Exchange-Rate Policies and Overall Balance
Monetary Policy and Fiscal Policy:Effects on Internal Balance
Fiscal Policy with Fixed Exchange Rates and Floating Exchange Rates
Monetary Policy With Fixed Exchange Rates and Floating Exchange Rates
Monetary and Fiscal Policies:Effects on External Balance
Monetary Policy and Fiscal Policy:Policy Agreement and Policy Conflict
The International Economy
Trade Restrictions
Inflation with Unemployment
International Economic Policy Coordination
Policy Coordination in Theory
Plaza Agreement of 1985 and Louvre Accord of 1987
Summary
Strdy Questions
CHAPTER EIGHTEEN
International Banking:Reserves,Debt,and Risk
Nature of International Reserves
Demand for International Reserves
Trading under Increasing-Cost Conditions
Exchange-Rate Flexibility
Other Determinants
Supply of International Reserves
Foreign Currencies
Gold
International Gold Standard
Gold Excbange Standard
THE INTERNATIONAL MONETARY FUND
Demonetization of Gold
Special Drawing Rights
Increasing Costs
Facilities for Borrowing Reserves
IMF Drawings
General Arrangements to Borrow
Swap Arrangements
Compensatory Financing for Exports
Oil Facility
Buffer Stock Financing Facility
International Lending Risk
The International Debt Problem
Reducing Bank Exposure to Developing-Nation Debt
Increasing-Cost Trading Case
HOW A DEBT/EQUITY SWAP WORKS
Debt Reduction and Debt Forgiveness
Mexican Financial Cries
1980s Crisis
1994-1995 Crisis
The Eurocurrency Market
Eurocurrency Market Development
Financial Implications
Summary
Study Questions
Partial Specialization
Notes
Index
Comparative Advantage Extended to Many Produets and Countries
More Than Two Products
More Tban Two Countries
Exit Barriers
THE RACE IN RESEARCH AND DEVELOPMENT
The United States as an Open Economy
Empirical Evidence on Comparative Advantage
Summary
Study Questions
CHAPTER THREE
International Equilibrium
Indifferenec Curves
Autarky Epuilibrium
Basis for Trade,Gains from Trade:A Restatement
The Equilibrium Terms of Trade
Theory of Reciprocal Demand
Conesquences of Increased Openness
Offer Curves and the Equilibrium Terms of Trade
Economic Growth and the Terms of Trade
Terms-of-Trade Estimates
Summary
Study Questions
CHAPTER FOUR
Trade Model Extensions and Applications
Factor-endowment Theory
Factor-Priec Equalization
Trade and the Distribution of Income
FOREIGN COMPETITION AND THE U.S.AUTOINDUSTRY
Does Trade Make the Poor Even Poorer?
Are Actral Trade Patterns Explained by the Factor Endowment Theory?
HAVE U.S.MANUFACTURERS FORGOTTEN THE BASICS?
Specific Factors:Trade and the Distribution of Income in the Short Run
Economies of Scale and Specialization
Theory of Overlapping Demands
Intraindustry Trade
Product Cycles
POCKET CALCULATORS AND THE INTERNATIONAL PRODUCT CYCLE
Dynamic Comparative Advantage:Industrial Policy
What Makes a Company“American”?
Environmental Regulatory Policies and International Competitiveness
JUMBO JET AIRERAFT COMPETITION AND INDUSTRIAL POLICY
Trade in Business Services
Transportation Costs
Trade Effects
Transportation Costs and the U.S.Steel Industuy
Summary
Study Questions
CHAPTER FIVE
Tariffs
International Competitiveness
The Tariff Concept
Types of Tariffs
Effective Rate of Protection
Tariff Escalation
Offshore-Assembly Provision
Postponing Import Duties
Bonded Warebouse
Foreign Trade Zone
Tariff Welfare Effects:Consumer Surplus and Producer Surplus
Tariff Welfare Effects:Small-Nation Model